simulated exam

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An individual was just caught making a false affidavit in connection with a policy's cancellation. What is the greatest prison sentence this individual faces?

1 year

Part 11- Towing and Labor will pay for labor done at the scene of disablement

Only to the extent that the labor was needed to get the auto going again.

Section I of a boatowners policy covers

Physical damage.

Willie, a private investigator, was hired by an insurer to obtain a character report on Joan, an applicant. Willie pretends to be a reporter working on a story about working women in Joan's town. During the conversation, Joan is asked a variety of questions for which the answers will be used to determine the final underwriting decision. This is an example of

Pretext interviewing.

Who would participate in a Write Your Own (WYO) flood insurance program?

Private insurers that wish to write and service National Flood Insurance policies on a no risk-bearing basis

The Federal Fair Credit Reporting Act

Regulates consumer reports.

The abandonment provision in property insurance policies states that

The insured may not relinquish ownership of damaged property to claim a total loss, but must protect damaged property from further loss.

what is NOT a characteristic of an insurable risk?

The loss must be catastrophic.

A nonresident producer who moves from one state to another state or a resident producer who moves from the commonwealth to another state must file a change of address and provide certification from the new resident state

Within 30 days of the change of legal residence.

Several insureds have become liable because of a single loss. How will the policy's limit of liability be affected?

No more than the per occurrence limit applies, no matter how many insureds are involved.

Which of the following is NOT one of the four primary elements considered in establishing negligence?

Proof of carelessness

J owns and operates a ranch. J has several vehicles that are used in the ranching operation and for personal use. Which of the vehicles described below could NOT be insured under a Personal Auto Policy?

A 4,000 pound grain truck with a 6,500 pound capacity

Coverage F (medical payments) under a homeowners policy would cover

A residence employee who is injured on the job.

Which of the following examples of losses paid under an HO-3 also would be paid under an HO-2 homeowners policy?

Damage to the dwelling caused by lava or dust from a volcanic eruption


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